El Paso, TX (KTSM) — As KTSM previously reported, the Federal Paycheck Protection Program has depleted. The program was supposed to aid businesses suffering economically due to the COVID-19 pandemic.
They announced Thursday, just two weeks after they launched the program, they would no longer be accepting lenders or applications.
Some business owners affected in El Paso told KTSM, they applied for the PPP funds weeks ago and still have not heard back.
The owner of Berry Lash in El Paso explained, her business has lost more than 20 thousand dollars since she was forced to close weeks ago.
“We are service-based so we can’t do anything right now, it’s not like we can sell a product online, the girls are suffering because they have bills to pay and the rent isn’t stopping so I still have to pay rent for both of my locations, it’s just been hard because we don’t know when we can open again,” said Yvonne Vera, owner of Berry Lash.
That same concern is also shared by the owner of Paco Wong’s Chinese Restaurant.
“My biggest concern is paying my employees because most of them live paycheck to paycheck, and its already going to be four weeks since we stopped operations,” Paco Wong said.
Both Berry Lash and Paco Wong’s explained, frustration is building without answers.
“I applied and I haven’t gotten a response back and by the looks of it, I don’t know if I’m even going to,” said Vera.
However, there are others in El Paso that have been able to receive funds from the Paycheck Protection Program.
The YWCA of El Paso recently received its funds and said it knows the frustration and uncertainty small businesses are going through.
“We’re hoping that more money is appropriated because small businesses are the foundation of this country, and we need to support small businesses,” said the CEO of the YWCA of El Paso Dr. Sylvia Acosta.
Adding, with the money they received they will bring employees back to work to begin virtual classes for students they took care of over the school year, and focus funding their domestic violence prevention program.
If you are the owner of small business and need help, the El Paso Community College Small Business Development Center is assisting small business owners remotely. To apply for its support, click here.